SGX Nifty indicates positive opening for Indian markets

23 Mar 2022 , 07:45 AM

SGX Nifty is at 17,431.50 levels, higher 50.60 points. (Updated at 7:46 AM)

Nifty saw a superb comeback from the lows of the day down 112 to close higher by almost 200 points as short-covering coupled with foreign buying saw bears run for cover.

Bank Nifty also closed higher by over 330 points after seeing intraday swings of over 700 points.

Midcaps bounced back smartly with Nifty 100 & Nifty 200 closing higher by 1%.

Tech M, Reliance & Tata Motors led the gainers while profit booking was seen in Hind Lever, Brittania & Nestle.

US Market: US markets see a super follow-through rally led by technology stocks with Nasdaq gaining over 270 points & crossing 14000.

Dow Jones closes higher by 250 points with bond yields hitting fresh new 3-year highs @ 2.40% which sees banks outperform. Geopolitical risk sees oil prices remaining elevated even though they see profit booking from recent highs.

Asian Market: Asian markets opened strong after the rally on Wall Street with the Japanese Nikkei trading higher by almost 600 points.

Most Asian markets have seen excellent pullbacks this week after the strong drubbing of last month. Chinese stocks are seeing institutional buying as Government steps in to stem the fall.